CoreWeave, backed by Nvidia, announced on Tuesday that it is acquiring AI developer platform Weights & Biases as part of its efforts to expand its cloud platform ahead of its upcoming IPO. The deal will merge CoreWeave’s infrastructure and managed cloud services with Weights & Biases’ AI model training and monitoring tools, which are used by major tech companies such as OpenAI and Meta.
While the financial terms of the deal were not disclosed, technology news site The Information reported that it could be valued at approximately $1.7 billion. CoreWeave, based in Roseland, New Jersey, has seen significant growth, with an eight-fold increase in revenue forecast for 2024.
CoreWeave, whose customers include companies like Meta, Microsoft, and hedge fund Jane Street, is aiming for a valuation exceeding $35 billion in its IPO later this year. The acquisition is seen as a move to strengthen CoreWeave’s position in the competitive AI market ahead of its New York listing.
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Britain’s competition regulator has approved Synopsys’ $35 billion acquisition of Ansys after the companies addressed concerns about the potential negative impact on innovation and pricing.
In December, the regulator raised alarms that the deal could reduce competition in the chip design software market, possibly leading to higher prices and less innovation.
However, following negotiations and the companies’ offer of remedies to mitigate these concerns, the regulator decided not to refer the deal for an in-depth phase-2 investigation.
Synopsys, a major player in the chip design software industry, announced the acquisition in January. The deal, which will be a mix of cash and stock, aims to strengthen Synopsys’ portfolio and expand its offerings in the design and development of complex products.
Ansys, a well-established provider of simulation software, is used by a range of industries, from aerospace to sports equipment, to design and optimise products like aeroplanes and tennis rackets.
The acquisition marks a significant move for Synopsys, enhancing its capabilities in the design and development of advanced technology.
The deal is expected to bring together the strengths of both companies, allowing them to offer a broader set of solutions to customers in various sectors, from semiconductor manufacturing to engineering and consumer goods.
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General Motors has appointed Barak Turovsky as its first chief AI officer, signalling a stronger focus on AI integration across its business.
Turovsky, a former AI leader at Cisco and Google, will report to Dave Richardson, GM’s senior vice president of software and services engineering. His team will work on expanding AI capabilities within GM’s vehicle lineup and broader operations.
GM has already implemented AI for tasks such as selecting locations for EV chargers, streamlining vehicle order processes, and optimising manufacturing.
Richardson stated that AI is central to the company’s strategy for electric, internal combustion, and autonomous vehicles, with Turovsky’s expertise expected to accelerate these efforts.
The hiring comes as GM continues to build its software-focused leadership team, having recently promoted former Apple executives to key positions. AI is set to play a crucial role in enhancing customer experience, improving operations, and driving innovation in the automaker’s future technologies.
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Donald Trump has called for the repeal of the CHIPS and Science Act, a key piece of legislation passed in 2022 to support semiconductor manufacturing in the US.
Trump criticised the law during a speech to Congress, describing it as a waste of hundreds of billions of dollars and suggesting the funds should instead be used to reduce national debt. His remarks mark his most forceful criticism of the act to date.
The CHIPS Act, signed by President Joe Biden, allocated $39 billion in subsidies for US semiconductor production and related industries, along with $75 billion in government-backed loans.
The initiative was part of a broader strategy to reduce reliance on foreign-made chips and address national security concerns.
Trump argued that rather than offering financial incentives, the government could avoid imposing tariffs to encourage semiconductor companies to build factories in the US.
However, the program has garnered support from officials, including Commerce Secretary Gina Raimondo, who played a key role in securing investments from leading global semiconductor firms like Samsung, Intel, and TSMC.
New York Governor Kathy Hochul defended the CHIPS Act, emphasising its role in bringing significant investment and job creation to the state, including Micron’s $100 billion investment in Central New York.
Trump’s comments have raised concerns about the future of these grants and the potential impact on such developments.
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China is set to release new guidance aimed at promoting the use of open-source RISC-V chips nationwide, a move that signals the country’s growing efforts to reduce its reliance on Western technology. The policy, which could be unveiled as early as this month, is being developed by several government bodies, including the Cyberspace Administration of China and the Ministry of Industry and Information Technology. The final release date remains uncertain as discussions continue.
RISC-V, an open-source chip design technology, has gained popularity in China, particularly among state entities and research institutes, due to its lower cost and geopolitical neutrality. It is seen as a viable alternative to more established, proprietary chip architectures, such as those from Intel and AMD, and is gaining traction in various industries, including AI and mobile technology. This shift has raised concerns in the United States, where lawmakers are wary that China may be leveraging RISC-V’s open-source nature to boost its semiconductor sector.
The growing adoption of RISC-V has sparked a positive movement in the Chinese stock market, with shares of local chip design firms such as VeriSilicon and ASR Microelectronics experiencing significant gains. Industry leaders point out that RISC-V’s potential to reduce costs for smaller companies looking to implement AI, particularly with the rise of technologies like DeepSeek, could further drive its adoption.
As tensions between the US and China over technology intensify, the development of China’s semiconductor industry using RISC-V may become a critical aspect of its strategy to become less dependent on foreign chipmakers, while also advancing its own technological ambitions.
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Indian fintech startup Mintoak has acquired Digiledge in a deal valued at around $3.5 million, marking the first acquisition in India‘s central bank digital currency (CBDC) sector.
The move comes as the Reserve Bank of India continues expanding its pilot for the e-rupee, which was launched in December 2022 as a digital alternative to physical currency.
Mintoak, backed by PayPal and HDFC Bank, aims to enhance its merchant payment services by integrating Digiledge’s CBDC and bill payment capabilities.
Mintoak’s partner banks, including HDFC Bank, Axis Bank, and SBI, will now be able to offer a broader range of CBDC-related payment solutions.
CEO Raman Khanduja stated that the acquisition would help merchant acquirers support small and medium enterprises with improved digital tools and financial services. The expansion aligns with India’s growing efforts to strengthen digital transactions and financial inclusion.
Several payment firms are actively seeking to participate in the CBDC pilot, with Cred and MobiKwik already enabling customer access earlier this year.
Google Pay, PhonePe, and Amazon Pay have also expressed interest in joining, as India’s digital payments ecosystem continues to evolve rapidly.
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Eutelsat shares surged by over 60% on Tuesday, continuing a remarkable rise that saw them increase by 68% the day before. This spike came after geopolitical tensions raised the possibility of OneWeb satellites, owned by the French satellite operator, replacing Elon Musk’s Starlink service in Ukraine. Since Friday, Eutelsat’s stock has nearly tripled in value following a public dispute between Ukrainian President Volodymyr Zelensky and former US President Donald Trump, which has cast doubt on the future of Starlink in the country.
Analysts suggest that the surge in Eutelsat’s stock is driven by the potential for OneWeb to secure the Ukrainian military’s satellite contract, with OneWeb being seen as a viable alternative to Starlink. The situation gained further momentum after a White House official revealed that Trump would pause military aid to Ukraine, potentially allowing Europe to increase its support. On Tuesday, the European Commission unveiled an ambitious 800 billion euro defense plan, further strengthening Europe’s role in the region.
Eutelsat has recently committed to increasing its satellite capacity for Ukraine, highlighting its growing importance for European defence. The French satellite operator has faced challenges, including concerns over rising debt and strong competition from US companies like SpaceX’s Starlink. Despite these hurdles, recent developments have rekindled investor confidence, with shares rising sharply after hitting all-time lows in February due to ongoing financial difficulties.
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SoftBank CEO Masayoshi Son is planning to borrow $16 billion to expand the company’s investments in AI, with a possible additional $8 billion loan in early 2026.
The financing plan was discussed with banks last week, according to sources cited by The Information.
The Japanese tech conglomerate has already committed $15 billion to the Stargate venture, a partnership with Oracle and OpenAI aimed at maintaining United States dominance in AI development.
Reports suggest SoftBank may invest up to $25 billion in OpenAI, further solidifying its position in the sector.
DeepSeek’s progress is a clear sign of the growing influence of Chinese companies in the AI sector, according to a spokesperson for China’s parliament. Lou Qinjian, speaking to reporters on Tuesday, praised the achievements of DeepSeek’s young team, describing their work as ‘commendable’.
He highlighted the company’s open-source approach and its efforts to spread AI technology globally, contributing ‘Chinese wisdom’ to the world.
The AI startup has been widely celebrated in China, particularly for rolling out AI models that offer a significantly lower cost than those developed by US rivals like OpenAI.
While some countries, including South Korea and Italy, have removed DeepSeek’s chatbot from their app stores over privacy concerns, it has been embraced within China, where local governments and tech firms are integrating it into their systems.
Based in Hangzhou, DeepSeek is rapidly advancing its next-generation model, set to succeed its R1 release from January, as it continues to make waves in the global tech sector.
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Taiwan has announced its support for TSMC’s plans to invest in the US, while also ensuring that the most advanced semiconductor technology remains within the country.
The statement, made by the presidential office on Tuesday, reassured that Taiwan would assist the semiconductor giant in its future US investments.
However, the government emphasised that Taiwan would retain its cutting-edge chip technologies to secure its position as a leader in the global semiconductor industry.
TSMC, Taiwan’s largest chipmaker, revealed plans for a significant $100 billion investment in the US to expand its presence and build five new chip manufacturing facilities over the coming years.
The announcement was made during a meeting between TSMC’s CEO and US President Donald Trump on Monday.
Move like this one is part of a broader push to bolster semiconductor production in the US, particularly in response to global supply chain issues and national security concerns surrounding chip dependence on foreign markets.
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